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US stock futures were flat in yet another listless overnight session after Thursday’s bear-vexing rally as traders braced for a slew of earnings from major banks like JPMorgan Chase and Citigroup Inc. Contracts on the S&P 500 dipped 0.1% by 7:45am ET largely as a result of a big drop in Boeing shares, partially offset by solid JPM gains following stellar earnings...
With the CPI coming in slightly cooler than expected and producer prices unexpectedly falling, a lot of people think the Fed pivot is now in play and we will soon see an end to monetary tightening. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey talks about the possibility of a pivot, market reaction, and most importantly, the possible ramifications.
ENERGY CLIFF... EUROPE'S NEXT ENERGY CRISIS: Low Natgas Prices & Surpluses Turning Back Into High Prices & ShortagesApril 14, 2023
All the Stars aligned nicely for Europe this winter and early spring to survive an even worse energy crisis this year. So, what for 2023 and into the coming winter? Good question. If we look at the natgas market, don't count on higher natgas prices yet, unless we have some sort of exogenous event..
Along with evidence of a softening job market from last week, the result bolstered bets that the Federal Reserve will start cutting interest rates by the third quarter, lifting demand for non-interest-bearing precious metal investments.
Gold’s next key target is the prior trend high of 2,070 from March 2022, but good chance it breaks higher.
Apr 13, 2023 - 12:49:01 PDT
We’re not living the American dream. We’re living a financial nightmare. The U.S. government is funding its existence with a credit card. The government—and that includes the current administration—is spending money it doesn’t have on programs it can’t afford, and “we the taxpayers” are the ones being forced to foot the bill for the government’s fiscal insanity.
As we know, Silicon Valley Bank (SVB) was taken over by the Feds after a bank run. Despite assurances from SVB that they were sound, they obviously failed to understand their precarious situation. Based on SVB’s balance sheet, it was technically insolvent.
The World War Boom and '46 Bust: Why War Does Not Keep Us Out of RecessionsApr 13, 2023 - 11:58:21 PDT
When I took my high school’s twentieth-century world history class, both the teacher and workbooks claimed repeatedly that World War II took us out of the Great Depression. Why would anyone question this? After all, unemployment went down.
The Pentagon will begin simulating a nuclear war, according to a Department of Defense press release. The war games come as the Bulletin of the Atomic Scientists warns a civilization-ending war is closer than at any time in history.
Apr 13, 2023 - 11:47:18 PDT
President Emmanuel Macron upped the retirement age from 62 to 64 and placed further restrictions on collecting a full pension. He did this unilaterally, by decree. Under the French constitution, the president can enact laws without a vote in Parliament if he can survive a vote of no confidence.
Billionaire Elon Musk warned of a difficult slog for the U.S. economy over the next year after recent turmoil within the banking system reignited fears over an imminent recession.
Gold prices jumped, sending the precious metal toward record highs, after data pointed to moderating price pressures in the U.S. economy.The most-actively traded gold futures contract recently traded around $2,053.10 a troy ounce, up about 12% year to date.
If We Hit $8000 Gold, That Means A Loss of Control & We'll Shoot Straight Past ThatApr 13, 2023 - 10:36:18 PDT
In today’s update, Mike discusses a recent article that makes a compelling case for $8,000/oz gold.
Even above $2,000, gold is so cheap right now, it’s practically a steal.
Gold surged on Thursday as more weak U.S. economic readings bolstered bets for a pause in interest rate hikes, with prospects of a mild recession also sending investors scurrying for the safe-haven.
The new global financial crisis as exemplified by the successive failures of Silvergate Bank, Silicon Valley Bank, Signature Bank, Credit Suisse and the potential failure of First Republic Bank is well underway.
Is the increasingly volatile situation in the US part of a recurring historical cycle?
Shortly after the Fed bailed out the Silicon Valley bank depositors, Reuters reported that Credit Suisse failed....
Poorer Countries across the globe are beginning to face ‘debt default’. Ukraine, Ghana, Sri Lanka, Pakistan, Lebanon, Egypt, Tunisia, Argentina, Kenya and Zambia are in an economic crisis and the US is calling for more restructuring and forgiveness. The vast majority of the debt is owed to China and the IMF...
Apr 13, 2023 - 07:25:07 PDT
“People are worried that the money they’ve saved won’t last and are worried they’re going to have to lean more on their credit cards and other sources of debt just to get by,” said Bruce McClary, a senior vice president at the National Foundation for Credit Counseling.